NKLA Stock Summary and Trading Ideas (Nikola | NASDAQ:NKLA)

Nikola Corp is a technology innovator and integrator, working to develop inventive energy and transportation solutions. It works on a business model that enables customers and fleets to integrate next-generation truck technology, hydrogen fueling and charging infrastructure, and related maintenance. It operates in two business units: Truck and Energy. The Truck business unit and Energy business unit. The Truck business unit is engaged manufacturing and selling FCEV and BEV trucks that provide, environmentally friendly, cost effective solutions to the trucking sector. The Energy business unit is engaged in developing and constructing a network of hydrogen fueling stations to meet hydrogen fuel demand for the Company's customers.

Nikola trades on the NASDAQ stock market under the symbol NKLA.

As of November 27, 2024, NKLA stock price climbed to $1.96 with 4,919,837 million shares trading.

NKLA has a beta of 2.05, meaning it tends to be more sensitive to market movements. NKLA has a correlation of 0.06 to the broad based SPY ETF.

NKLA has a market cap of $119.30 million. This is considered a Micro Cap stock.

Last quarter Nikola reported $25 million in Revenue and -$2.75 earnings per share. This fell short of revenue expectation by $-12 million and missed earnings estimates by -$.40.

In the last 3 years, NKLA traded as high as $364.20 and as low as $1.83.

The top ETF exchange traded funds that NKLA belongs to (by Net Assets): VTI, VXF, DRIV, SCHA, IDRV.

NKLA has underperformed the market in the last year with a price return of -93.3% while the SPY ETF gained +33.3%. NKLA has also underperformed the stock market ETF in the last 3 month and 2 week periods returning -72.9% and -37.2%, respectively, while the SPY returned +6.9% and +0.3%, respectively.

NKLA support price is $1.79 and resistance is $2.11 (based on 1 day standard deviation move). This means that using the most recent 20 day stock volatility and applying a one standard deviation move around the stock's closing price, stastically there is a 67% probability that NKLA shares will trade within this expected range on the day.